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Detail Analysis

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Date:

Status:

Count:

Contributor:

May 11, 2022

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Verified

1

zerofriction.io

Loss Amount:

3,312,470

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Recovered Amount:

-

Currency:

Dollars, N3DR

KYC By:

Audit By:

None

Quill Audits

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Key Indicators

Platform:

Type:

Category:

Method:

Binance Smart Chain

Protocol

Assets

Poor Key Management

Extended Method:

Compromised private key, hot wallet

Data Sources:

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NeorderDAO is a project that seeks to establish a 'New World Order' for Web 3.0, through a free, decentralized, protocol-driven and emerging internet paradigm where users have autonomy.

The Dev Team reported a security incident where 79M N3DR tokens were stolen. The token price collapsed to 98%. According to the incident report, the FOMO jackpot pool requires a dynamic key to transfer the jackpot as a mechanism to deter cheats. However, teh hacker was able to obtain the source code and then cracked the dynamic key to steal the tokens, or ~$3.3M.

The project was 'audited' by Quill Audits. Not sure why the audit did not detect this attack vector. Which leads one to believe that this incident may be an inside job.

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Under no circumstances, shall Zero Friction LLC be liable for any loss of profit or funds, any regulatory or governmental penalties, any legal costs, or any other commercial and non-commercial damages, including but not limited to special, incidental, consequential, or other damages from any or all usage of the dataset or information derived from our database.